There is no secret about CBDCs, it is fiat. If you know how to use fiat already online, CBDCs is of no use to that kind of people. The government are only wasting money on CBDCs because they are not needed. I do not know if it is to trick people to believe that they are cryptocurrencies, but CBDCs are not cryptocurrencies.
I understand what the @OP mean is that ; the people behind it has a hidden agenda. CBDCs are still different from an online fiat, and they are actually like a cryptocurrency who also has a blockchain. For those who are a fan of fiat money and is into something new, well they might also try these CBDCs. Don't worry about the government if they are only wasting money on a project like this, because it wasn't their money that they used anyway but it was ours, from the tax that we pay, although indeed that it's better if they use it on something much better. We don't need another online currency or payment method, as we already have lots of them. 
Topic: Central Banks keeping secret about CBDC blockchains (Read 209 times)
Cbdc is not a secret to what is happening now over time. As far as I know, it seems to be getting even more exposure in the field of cryptocurrency. And those who have deep knowledge in the field of cryptocurrency, including myself, know that Cbdc for me is not good.
What they are doing is just hypocrisy, pretending to be volatile assets, but they are not really because it is obvious that they are controlled by government regulation in the reality of what is happening now.
What they are doing is just hypocrisy, pretending to be volatile assets, but they are not really because it is obvious that they are controlled by government regulation in the reality of what is happening now.
CBDC is not trying to be a volatile asset.. its trying to be a more streamlined and secure wire transfer payment system to cut out the middlemen like visa/mastercard. whereby instead of only offering wire transfers that take 3-5 business days to settle they want wire transfers to settle in 1 second
its an idea to replace "account card number" with a short ID of a public key using a private key instead of a pin number home address and CVV number
Cbdc is not a secret to what is happening now over time. As far as I know, it seems to be getting even more exposure in the field of cryptocurrency. And those who have deep knowledge in the field of cryptocurrency, including myself, know that Cbdc for me is not good.
What they are doing is just hypocrisy, pretending to be volatile assets, but they are not really because it is obvious that they are controlled by government regulation in the reality of what is happening now.
What they are doing is just hypocrisy, pretending to be volatile assets, but they are not really because it is obvious that they are controlled by government regulation in the reality of what is happening now.
You are being extra skeptical here, because I don't think if there is anything fishing in CBDC and Central Banks are hiding it because it's just your fiat money in digital form but as far as I remember there was a CBDC from Argentina maybe, where they made the code public and one of the freelancing developers found out a mistake which was appreciated by everyone. It indicates that yeah CBDC can not be error-free as you said human made it and human makes mistakes too.
So, mistakes can occur in CBDC systems but the level of risk is not that high that we start to doubt CBDC on the basis of our skepticism.
It is better to have some proof on our hands if you really want to claim that Central banks are keeping something hidden on CBDC from us. All I know is that CBDC is a central platform where we don't own our money, it will be in the control of CBDC.
So, mistakes can occur in CBDC systems but the level of risk is not that high that we start to doubt CBDC on the basis of our skepticism.
It is better to have some proof on our hands if you really want to claim that Central banks are keeping something hidden on CBDC from us. All I know is that CBDC is a central platform where we don't own our money, it will be in the control of CBDC.
The problem is not errors, although their presence does not bring us joy
The problem is a change in the paradigm of money as such. More precisely, when under a thick layer of beautiful solutions, inside of which lie things that are actually key for the “owners” of the CBDC project, i.e. STATES. And which, in fact, deprive us of the right to fully manage our money. True, no one advertises these solutions, such as “the advantages of high-tech CBDC”, they are silent about them, and I’m not sure that they will ever be publicly announced... But we will observe “amazing cases” with someone’s money.
Although there is a plus here
This will more strongly encourage people to massively use UNCONTROLLED cryptocurrency, without interacting with the “digital state fiat CBDC” 
CBDCs are not cryptos. It's a digital version of fiat. It's pretty much similar to the online banking transfer things that we all do. I am not sure which Blockchain you are referring to. There's no Blockchain behind CBDCs.
Also, even if there's a Blockchain, the central banks will never tell you about this. That's how a centralized system should work. You just enjoy the result.
Also, even if there's a Blockchain, the central banks will never tell you about this. That's how a centralized system should work. You just enjoy the result.
CBDC "under the hood" has just a blockchain, but... how can I put it... quite a centralized blockchain. It sounds not very expected, of course, but you understand perfectly well that the state is power, and CENTRALIZED power. And the finances of this power cannot be decentralized. How can you imagine a state with an unmanaged financial system?!
That's why I call CBDC - "the creepy brother of cryptocurrency", and its goal is the same - to completely replace uncontrolled (or inconveniently controlled) mechanisms of money movement
Not really! Not every CBDC has a Blockchain working in the background. Digital money transfer is also possible without a Blockchain system. Probably some countries have implemented Blockchain, but that's not a requirement.
But it depends on how you look at the backend. Every transactions need to be linked, but there's way to do it. Please study the structure of UPI from India. Blockchain is not required in CBDC. Countries can use it at their own interest but not a requirement.
for months now, the US has already started its CBDC for its wholesale (central bank-commercial bank) first phase.. its called FedNow
most of the aims of CBDC is not to kill the customer.. but to eventually remove the need for visa/mastercard
right now the FedNow system is not issuing new currency. its just using the tech to do reserve swaps of institutions current fiat digital dollar(bank account balance)
right now at first phase it has sped up the ACH timescales of wire transfer where its no longer x business days with no transfers at weekends/evenings. to now being in seconds 24/7(for banks using FedNow)
if visa/mastercard want to stay in business at the next phase, they will need to join the new era of digital wallets and hardware wallets using priv-public keys to sing multisigs... instead of their current plastic card technology using lengthy card numbers and account numbers and pins
most of the aims of CBDC is not to kill the customer.. but to eventually remove the need for visa/mastercard
right now the FedNow system is not issuing new currency. its just using the tech to do reserve swaps of institutions current fiat digital dollar(bank account balance)
right now at first phase it has sped up the ACH timescales of wire transfer where its no longer x business days with no transfers at weekends/evenings. to now being in seconds 24/7(for banks using FedNow)
if visa/mastercard want to stay in business at the next phase, they will need to join the new era of digital wallets and hardware wallets using priv-public keys to sing multisigs... instead of their current plastic card technology using lengthy card numbers and account numbers and pins
I don't know if there is a secret about CBDC, but in my opinion, even if there is no secret, CBDC is a failure even before it starts.
It is just worthless digital garbage like paper money, but it is much worse because paper money at least has a physical presence on Earth, but these are only numbers in bank accounts that can be erased with the push of a button, or frozen and deleted from your balance.
This centralized money is not safe at all, and governments know this but want to create it against decentralized cryptocurrencies that are outside the government's control.
It is just worthless digital garbage like paper money, but it is much worse because paper money at least has a physical presence on Earth, but these are only numbers in bank accounts that can be erased with the push of a button, or frozen and deleted from your balance.
This centralized money is not safe at all, and governments know this but want to create it against decentralized cryptocurrencies that are outside the government's control.
One thing we know is that Central Bank Digital Currencies are controlled by Central Banks, so it is not any different than Fiat currencies. (It is actually just the digital version of Fiat currencies)
Anything that are controlled by a central authority can be manipulated or misused, so the process of the printing of toilet paper Fiat, will just be moved to the manipulation of the supply of digital tokens on this technology.
Anything that are controlled by a central authority can be manipulated or misused, so the process of the printing of toilet paper Fiat, will just be moved to the manipulation of the supply of digital tokens on this technology.
They keep it secret but they know and i know and all of you know If they bring in new blockchain then can we be sure of it's scalebility ? Safety? And all the other factors.
They just gamble and try out ?
They should be smart and educated enough to know that If bring some thing into CBDC -s then it can't be like it was covid19 when goverments all over the world just gambled with people healt.
Imagine If the non tested CBDC will fail something happens and all your wealth is gone.
Goverments and bankers not gods they are just humans like everybody else and nobody not perfect so we should use our own heads to think aswell not just trust blindly.
They better be sure that those CBDC not be like they the covid19 was when it was just mess.
Something doesn't make sense here.
They just gamble and try out ?
They should be smart and educated enough to know that If bring some thing into CBDC -s then it can't be like it was covid19 when goverments all over the world just gambled with people healt.
Imagine If the non tested CBDC will fail something happens and all your wealth is gone.
Goverments and bankers not gods they are just humans like everybody else and nobody not perfect so we should use our own heads to think aswell not just trust blindly.
They better be sure that those CBDC not be like they the covid19 was when it was just mess.
Something doesn't make sense here.
You know, CBDC cannot guarantee that they will also get the same level of scalability and safety as current blockchain solutions. First of all, it is still under government regulation.
Therefore, I don't trust the CBDC because it is also fiat, and those behind it are also manipulators in the crypto space who are other officials who want to control Bitcoin or cryptocurrency. So there's no secret there, really.
(...)Something doesn't make sense here.
So are they harmful to the economy?Fighting against each other and creating new things is seen as an alternative, but that in fact creates new problems.
I don't know what the OP's prejudice is against CBDC, but it's clearly still causing a lot of controversy, and I'm only neutral when I know the solution and the risks. Because of this market, we all want decentralization and freedom from constraints, but in reality, it has not happened, and getting rid of government restrictions on this market is always a problem for supporters. Blockchain households are always distrustful of the government's economic operations.
There is no secret about CBDCs, it is fiat. If you know how to use fiat already online, CBDCs is of no use to that kind of people. The government are only wasting money on CBDCs because they are not needed. I do not know if it is to trick people to believe that they are cryptocurrencies, but CBDCs are not cryptocurrencies.
That is their goal for sure, for what I can tell, in general people have no idea how their money works, and there is not a small number that still believe their fiat currencies are backed by gold or other assets, so when that level of ignorance is so widespread I cannot blame governments for trying to trick people into using their CBDCs.However their problem are people like us, which know exactly what is going on and that will not get anywhere near those CBDCs and we will keep holding our bitcoin instead.
There is plenty of content on the internet about CBDC which various officials release so it is no secret. If you know how to use mobile banking or any online payment gateway, you are ready to use a CBDC. They have similar usability and infrastructure, the only difference is that they are created and governed by a government whereas the previous one was through a company. CBDC is worse than mobile banking companies because the government can misuse their user data in such a cruel way that it can affect society very badly.
I think it's just a diversionary issue to the people if the goverment is very welcome to crypto. They try to attract people if CDBC is the same as crypto they own. But, the people now is very smart, they know how the real crypto works today. they might like CDBC created by government because forced to do so. The people must have to download and use the application like a bank account and make all payments using the CDBC they created. But, still, if people know how the crypto works, they don't hold it, they just use it once through to to avoid sanctions There is plenty of content on the internet about CBDC which various officials release so it is no secret. If you know how to use mobile banking or any online payment gateway, you are ready to use a CBDC. They have similar usability and infrastructure, the only difference is that they are created and governed by a government whereas the previous one was through a company. CBDC is worse than mobile banking companies because the government can misuse their user data in such a cruel way that it can affect society very badly.
most CBDC are a hybrid 2 network system the mainnet for the central-commercial bank of reserves and issuance creation.. and subnetwork the individual banks/services retain data on and audit the customers and only report under conditions to the central authority. and vice versa
the ISO standard of curent electronic fiat payments is not the same as the multisig hop reserve sharing tech a CDBC routed payment uses
there is no PoW blockchain. the mainnet is more of a PoS system of one master multisig thats spendable state updates and has a hash tree(chain) of previous states to ensure all central-commercial parties retain the same mainnet history log of th main reserve allocations
So they have different infrastructure, but they have similar usability right? Like user will have to create an account through his NID card or government issued card number through an application. Is there any data about this from any pilot program of CBDC?
i already gave you a link
They keep it secret
there is no secret.. there are many whitepapers available... even the chinese e-yuan has white papers and such
http://www.pbc.gov.cn/en/3688110/3688172/4157443/4293696/2021071614584691871.pdf
Another thing that came to mind is that master multisig is the main controller of the network. I mean that is he the one who will be responsible for issuing more currencies freezing any address etc? I can see i don't have much knowledge about it; I need to do some research on it.
its a 2 network system mainnet-subnetwork
the mainnet(wholesale) is the central bank-commercial bank multisig of reserves and currency issuance
the subnetwork(retail) is where the commercial banks store tx history of their customers and share on legal demand
Quote
2.1
Fourth, as retail CBDC, e-CNY mainly serves domestic retail payment demands.
Categorized by user and purpose, there are two kinds of CBDC, wholesale and retail.
wholesale CBDC is mainly issued to institutions such as commercial banks and
mostly serve large-value settlement. Retail CBDC is issued to the public for daily
transactions. Major countries and economies vary in their priorities of developing
CBDC, with some focusing on wholesale transactions and some dedicated to
improving the efficiency of the retail system. E-CNY is a retail CBDC issued to the
public. With a modern domestic payment system in China, the issuance of e-CNY will
fully meet the public’s daily payment needs, further improve the efficiency of the
retail payment system and reduce the cost of retail payment.
Fifth, in the future digital retail payment system, e-CNY and funds in the
electronic account of authorized operators are inter-operable, and both
constitute cash in circulation. Commercial banks and licensed non-bank payment
institutions that meet compliance requirements (including anti-money laundering and
countering terrorist financing requirements) and regulatory requirements regarding
risk management on a comprehensive and on-going basis may participate in the
e-CNY payment system as per recognition and support of the central bank. They can
also fully tap existing payment and other infrastructures while providing digital retail
payment services for customers
Fourth, as retail CBDC, e-CNY mainly serves domestic retail payment demands.
Categorized by user and purpose, there are two kinds of CBDC, wholesale and retail.
wholesale CBDC is mainly issued to institutions such as commercial banks and
mostly serve large-value settlement. Retail CBDC is issued to the public for daily
transactions. Major countries and economies vary in their priorities of developing
CBDC, with some focusing on wholesale transactions and some dedicated to
improving the efficiency of the retail system. E-CNY is a retail CBDC issued to the
public. With a modern domestic payment system in China, the issuance of e-CNY will
fully meet the public’s daily payment needs, further improve the efficiency of the
retail payment system and reduce the cost of retail payment.
Fifth, in the future digital retail payment system, e-CNY and funds in the
electronic account of authorized operators are inter-operable, and both
constitute cash in circulation. Commercial banks and licensed non-bank payment
institutions that meet compliance requirements (including anti-money laundering and
countering terrorist financing requirements) and regulatory requirements regarding
risk management on a comprehensive and on-going basis may participate in the
e-CNY payment system as per recognition and support of the central bank. They can
also fully tap existing payment and other infrastructures while providing digital retail
payment services for customers
if a commercial service sees a customer do something suspicious it gives basic data to the central authority about the transaction and if needed the central authority is suppose to seek court order to ask for all data related to that transaction and customer, including history and any data available about that user
There is plenty of content on the internet about CBDC which various officials release so it is no secret. If you know how to use mobile banking or any online payment gateway, you are ready to use a CBDC. They have similar usability and infrastructure, the only difference is that they are created and governed by a government whereas the previous one was through a company. CBDC is worse than mobile banking companies because the government can misuse their user data in such a cruel way that it can affect society very badly.
most CBDC are a hybrid 2 network system the mainnet for the central-commercial bank of reserves and issuance creation.. and subnetwork the individual banks/services retain data on and audit the customers and only report under conditions to the central authority. and vice versa
the ISO standard of curent electronic fiat payments is not the same as the multisig hop reserve sharing tech a CDBC routed payment uses
there is no PoW blockchain. the mainnet is more of a PoS system of one master multisig thats spendable state updates and has a hash tree(chain) of previous states to ensure all central-commercial parties retain the same mainnet history log of th main reserve allocations
So they have different infrastructure, but they have similar usability right? Like user will have to create an account through his NID card or government issued card number through an application. Is there any data about this from any pilot program of CBDC? Another thing that came to mind is that master multisig is the main controller of the network. I mean that is he the one who will be responsible for issuing more currencies freezing any address etc? I can see i don't have much knowledge about it; I need to do some research on it.
There is plenty of content on the internet about CBDC which various officials release so it is no secret. If you know how to use mobile banking or any online payment gateway, you are ready to use a CBDC. They have similar usability and infrastructure, the only difference is that they are created and governed by a government whereas the previous one was through a company. CBDC is worse than mobile banking companies because the government can misuse their user data in such a cruel way that it can affect society very badly.
most CBDC are a hybrid 2 network system the mainnet for the central-commercial bank of reserves and issuance creation.. and subnetwork the individual banks/services retain data on and audit the customers and only report under conditions to the central authority. and vice versa
the ISO standard of curent electronic fiat payments is not the same as the multisig hop reserve sharing tech a CDBC routed payment uses
there is no PoW blockchain. the mainnet is more of a PoS system of one master multisig thats spendable state updates and has a hash tree(chain) of previous states to ensure all central-commercial parties retain the same mainnet history log of th main reserve allocations
There is plenty of content on the internet about CBDC which various officials release so it is no secret. If you know how to use mobile banking or any online payment gateway, you are ready to use a CBDC. They have similar usability and infrastructure, the only difference is that they are created and governed by a government whereas the previous one was through a company. CBDC is worse than mobile banking companies because the government can misuse their user data in such a cruel way that it can affect society very badly.
You are being extra skeptical here, because I don't think if there is anything fishing in CBDC and Central Banks are hiding it because it's just your fiat money in digital form but as far as I remember there was a CBDC from Argentina maybe, where they made the code public and one of the freelancing developers found out a mistake which was appreciated by everyone. It indicates that yeah CBDC can not be error-free as you said human made it and human makes mistakes too.
So, mistakes can occur in CBDC systems but the level of risk is not that high that we start to doubt CBDC on the basis of our skepticism.
It is better to have some proof on our hands if you really want to claim that Central banks are keeping something hidden on CBDC from us. All I know is that CBDC is a central platform where we don't own our money, it will be in the control of CBDC.
So, mistakes can occur in CBDC systems but the level of risk is not that high that we start to doubt CBDC on the basis of our skepticism.
It is better to have some proof on our hands if you really want to claim that Central banks are keeping something hidden on CBDC from us. All I know is that CBDC is a central platform where we don't own our money, it will be in the control of CBDC.
CBDCs are not cryptos. It's a digital version of fiat. It's pretty much similar to the online banking transfer things that we all do. I am not sure which Blockchain you are referring to. There's no Blockchain behind CBDCs.
Also, even if there's a Blockchain, the central banks will never tell you about this. That's how a centralized system should work. You just enjoy the result.
Also, even if there's a Blockchain, the central banks will never tell you about this. That's how a centralized system should work. You just enjoy the result.
CBDC "under the hood" has just a blockchain, but... how can I put it... quite a centralized blockchain. It sounds not very expected, of course, but you understand perfectly well that the state is power, and CENTRALIZED power. And the finances of this power cannot be decentralized. How can you imagine a state with an unmanaged financial system?!
That's why I call CBDC - "the creepy brother of cryptocurrency", and its goal is the same - to completely replace uncontrolled (or inconveniently controlled) mechanisms of money movement
CBDCs are not cryptos. It's a digital version of fiat. It's pretty much similar to the online banking transfer things that we all do. I am not sure which Blockchain you are referring to. There's no Blockchain behind CBDCs.
Also, even if there's a Blockchain, the central banks will never tell you about this. That's how a centralized system should work. You just enjoy the result.
Also, even if there's a Blockchain, the central banks will never tell you about this. That's how a centralized system should work. You just enjoy the result.
based on many similar design CBDC whitepapers which are public
there is a transaction chain. which also uses previous txid hashed with current state txid to create a txhashchain to confirm all parties have the same tx history and agree to the current state.. its not like current blockchains that contain thousands of transactions per block its a multisig tx chain of like ~12 parties signing one master tx the current state of their reserves(1 central bank+11 payment services) spending the previous state
as a subnetwork
the payment services use current state of central network to then author their own multisig(channels) between each other on the sub network. and then have micro sub channels below that for each payment services customers. and payments are routed around the channels
each customer can have 3 different levels of 'channel'(account) based on capacity limit of channel.. the lowest is like minimum wage monthly salary allowing even smaller payments at zero KYC, the next is mid range spending of mid amount for simple kyc and then large capacity requiring full KYC
its the payment services that keep the customers data and supply it on court ordered request or if payments contain suspicion flags.
CBDCs are not cryptos. It's a digital version of fiat. It's pretty much similar to the online banking transfer things that we all do. I am not sure which Blockchain you are referring to. There's no Blockchain behind CBDCs.
Also, even if there's a Blockchain, the central banks will never tell you about this. That's how a centralized system should work. You just enjoy the result.
Also, even if there's a Blockchain, the central banks will never tell you about this. That's how a centralized system should work. You just enjoy the result.
Perhaps you need to study up on the idea of CBDC before concluding or comparing it with the COVID-19 saga that swept across the world, my dear OP.
Although, I can agree that the CBDC initiative is meant to discourage the citizens from putting their coins and trust in cryptocurrencies or even think about investing in it.
The truth still remains that CBDC is a digital account on the Blockchain that reflects what one actually has in his personal bank account, nothing else. No trading with it or need for P2p .
Although, I can agree that the CBDC initiative is meant to discourage the citizens from putting their coins and trust in cryptocurrencies or even think about investing in it.
The truth still remains that CBDC is a digital account on the Blockchain that reflects what one actually has in his personal bank account, nothing else. No trading with it or need for P2p .
This isn't any rocket science and CBDC is digital currency and it won't differ much from the existing online payment method except the fa t that it would be via blockchain and I think it's gonna make tasks like cross border transactions and it would help in cashless economy but those who had been using online payment will not find much difference. It's centralized and from the government so why would there be any crisis apart from the usually economic crisis which occurs.
I hope they test it thoroughly before launch and proper education the public in the same regards as this will put vulnerable populations at the risk of online frauds.
I hope they test it thoroughly before launch and proper education the public in the same regards as this will put vulnerable populations at the risk of online frauds.
They keep it secret but they know and i know and all of you know If they bring in new blockchain then can we be sure of it's scalebility ? Safety? And all the other factors.
There are no uncertainties around CBDCs, they will be high on scalability, but low on decentralization and security. They will be highly censored and regulated and become another means for the government to eliminate privacy.You should not even be expecting anything from CBDCs, best case scenario is they function exactly as fiat is doing now, worse case scenario, they find a way to be even worse than the current system.
Fiat on steroids... they can literally do everything from one computer, and who can stop them? They can do whatever they want with their own chain, and we (users) will not be able to do anything about it.
As we are moving away from fiat now, we should move from CBDCs even faster... nothing good will come from that, at least anything good for the majority of the world population.
They keep it secret but they know and i know and all of you know If they bring in new blockchain then can we be sure of it's scalebility ? Safety? And all the other factors.
There are no uncertainties around CBDCs, they will be high on scalability, but low on decentralization and security. They will be highly censored and regulated and become another means for the government to eliminate privacy.You should not even be expecting anything from CBDCs, best case scenario is they function exactly as fiat is doing now, worse case scenario, they find a way to be even worse than the current system.
I do not know what the secret is here, but many governments are developing CBDC, and some of them have reached the experimental stages. As for scalability problems, the currency will be centralized, and therefore there will be a single authority that manages data updating operations. Also, even some of the Crypple blockchains can manage thousands of transactions, so scalability is linked to certain conditions when What has been achieved is that any central currency based on the blockchain can perform thousands of transactions per second.
Overall I think you need to read more about CBDCs instead of conspiracy theories.
Overall I think you need to read more about CBDCs instead of conspiracy theories.
I don't want to sound like a "prophet" but
I am not sure that there is information about ALL functionality in open sources, but for example there is quite real information about implementation of one of the key "features" of CBDC - the ability to centrally block any funds of any wallet, any owner. This is in addition to the total control (blockchain is at the heart of the technology, after all). CBDC is the "horrible brother" of blockchain technology. And this technology is not about making life easier for us, it is about total, comprehensive control of our money. If cash or card accounts can't be blocked at a moment's notice, or if you can't quickly monitor the movement of your money "down to the penny" and block it at any stage - then with CBDC technology, it will be a trivial "one-click" task.
I am not sure that there is information about ALL functionality in open sources, but for example there is quite real information about implementation of one of the key "features" of CBDC - the ability to centrally block any funds of any wallet, any owner. This is in addition to the total control (blockchain is at the heart of the technology, after all). CBDC is the "horrible brother" of blockchain technology. And this technology is not about making life easier for us, it is about total, comprehensive control of our money. If cash or card accounts can't be blocked at a moment's notice, or if you can't quickly monitor the movement of your money "down to the penny" and block it at any stage - then with CBDC technology, it will be a trivial "one-click" task.
They keep it secret but they know and i know and all of you know If they bring in new blockchain then can we be sure of it's scalebility ? Safety? And all the other factors.
They just gamble and try out ?
They should be smart and educated enough to know that If bring some thing into CBDC -s then it can't be like it was covid19 when goverments all over the world just gambled with people healt.
Imagine If the non tested CBDC will fail something happens and all your wealth is gone.
Goverments and bankers not gods they are just humans like everybody else and nobody not perfect so we should use our own heads to think aswell not just trust blindly.
They better be sure that those CBDC not be like they the covid19 was when it was just mess.
Something doesn't make sense here.
They just gamble and try out ?
They should be smart and educated enough to know that If bring some thing into CBDC -s then it can't be like it was covid19 when goverments all over the world just gambled with people healt.
Imagine If the non tested CBDC will fail something happens and all your wealth is gone.
Goverments and bankers not gods they are just humans like everybody else and nobody not perfect so we should use our own heads to think aswell not just trust blindly.
They better be sure that those CBDC not be like they the covid19 was when it was just mess.
Something doesn't make sense here.
CBDC technology is still being tested for flaws and errors. Do you really think that the central bankers are dumb enough to launch an untested payment infrastructure? Nobody is keeping the CBDCs a secret. There were hundreds of articles about CBDC creation and implementation around the internet in the last few years.
The governments don't need a new pandemic in order to impose CBDCs. I'm not a fan of CBDCs, but I'm sure that their implementation in everyday life will be as painless for the people as it gets.
OP, your post seems really ignorant on so many levels. Do you even understand how CBDC works? Read more about the subject, before posting low quality forum topics.
CBDC will have a huge impact on the economy. I believe they'll run some tests first before rolling it out massively in the country. China is currently in the market testing phase, and their CBDC isn't finalized yet, but the digital yuan (CNY) is already out and circulating, even used by some Chinese citizens. China's government always wants to take the lead in everything, including cryptocurrency, by releasing the Digital Yuan earlier than other countries.
It's important to note that CBDC is different from the usual crypto we have. CBDC is not decentralized, and the government regulates and controls this currency with its central policies. Is this bad for the world? It could be. Governments and banks might dominate again without leaving room for decentralized cryptocurrencies to thrive.
It's important to note that CBDC is different from the usual crypto we have. CBDC is not decentralized, and the government regulates and controls this currency with its central policies. Is this bad for the world? It could be. Governments and banks might dominate again without leaving room for decentralized cryptocurrencies to thrive.
Imagine If the non tested CBDC will fail something happens and all your wealth is gone.
I have no idea how that loss will happen, but I believe CBDC will be full government control. Tracking, transaction reversal won't be separated from its characteristics. The actual loss may not be due to the efforts of criminals, but by the authorities, for example to recover your "lost" funds, you have to pay some % in terms of "recovery fees/taxes" or something like that. 
There is no secret about CBDCs, it is fiat. If you know how to use fiat already online, CBDCs is of no use to that kind of people. The government are only wasting money on CBDCs because they are not needed. I do not know if it is to trick people to believe that they are cryptocurrencies, but CBDCs are not cryptocurrencies.
Of course, CBDC is different from crypto money because it does not have the decentralized nature of the original cryptocurrency, namely Bitcoin. On the other hand, there is an indirect skepticism towards a complete transformation to digital currency.
The direction is, if there is something urgent, it is very possible that the Government can easily limit access in certain circumstances. What it looks like is that powerful interests will do everything in their power to destroy the digital currency component of the business.
Have you used CBDC before for transaction and the cross border transaction is cheaper? Do not let us deceive ourselves. The government are the ones that is regulating both fiat and CBDCs, they control everything and they can make the fee cheap. I have not seen any CBD used for international transaction. Can you point to one?
At present, I doubt if any CBDCs have been used for international trade. Most countries are still engaging in pilot studies on how to use these central bank-controlled currencies for cross-border trade. Some reports claim that the test was successful which means that in a few years, we might see an increase in the use of CBDs for international trade transactions.Central Banks Successfully Test Cross Border Trading of Wholesale CBDC Using DeFi
Successful testing paves way for CBDC use cross-border
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In my country, I still have some banks that have 0 fee transactions for certain number of times daily or monthly but you have to pay fee for CBDC that my country created.
The only difference is that CBDCs use blockchain but fiat did not and nothing more. But they are all still fiat.
The government supposed to have improved their fiat but going for CBDC. I will never use it because it is fiat.
Many informed people already know that there is no difference between CBDC and fiat which is why its use has not increased even with all the incentives the government is offering. Many countries are facing inflation which has led to the loss of value of local currency. People prefer to use Bitcoin as a hedge against inflation than to keep CBDCs which is the same as the depreciating fiat. The only difference is that CBDCs use blockchain but fiat did not and nothing more. But they are all still fiat.
The government supposed to have improved their fiat but going for CBDC. I will never use it because it is fiat.
They keep it secret but they know and i know and all of you know If they bring in new blockchain then can we be sure of it's scalebility ? Safety? And all the other factors.
They just gamble and try out ?
You just make sure everything is safe, so don't be too trusting too much about what they bring for you. The government is trying to make the people better, So we know they are human which is not perfect, but nothing is wrong with trying the program. CDBC has just implemented the blockchain, It's good I think. This means the government believes in what we are fighting for today. So let them go, and we must follow what they build for us, but when we think is not good, and more centralization from fiat, nothing is wrong with leaving that and back to traditional crypto (decentralization). Just simple like that. They just gamble and try out ?
There is no secret about CBDCs, it is fiat. If you know how to use fiat already online, CBDCs is of no use to that kind of people. The government are only wasting money on CBDCs because they are not needed. I do not know if it is to trick people to believe that they are cryptocurrencies, but CBDCs are not cryptocurrencies.
CBDC is not to fool people into believing that they are Cryptocurrencies. CBDC is to fool every body into thinking they are BETTER than Cryptocurrencies.I presume they will function for the first few years in an attractive way. Zero or negligible fees. Zero maintenance Tax. Instant arrival into destination account no matter the country of residence. Zero or negligible taxes if you hold on to your CBDC. Maybe discounts for purchases of food and such.
This assumption is based on their recent strategies. Look how they are tricking people into moving from gas to electric cars. If it sounds good enough they will move. For cars in Romania they did zero parking charge. Zero or lowered Taxes. Free charging. Et cetera. The benefits will slowly decrease until there will be no more real benefits.
CBDCs are for those people who form a majority. They will move if they find it beneficial enough and it will be more beneficial for the start than Bitcoin or Internet Banking. But that is because the CBDC is of course not Decentralized. It will require clicks to add or remove supply. Not Mining. It will have comforting benefits for the consumer like Centralized Exchanges and Custodial Wallets.
CBDCs are the last thing that's even remotely close to being "secretive". it's literally just cash that's minted on the blockchain and unlike cryptocurrencies, they are regulated by the government hence the Central Bank in the CBDCs acronym. Scalability is not going to be a problem for CBDCs since they are self-sustaining thanks to the fact that the government takes care of them. A lot of people here are very much aware and are pretty accepting of CBDCs in the crypto scene since for worse, this is just going to be one of the government's most futile attempts at controlling the crypto industry. At best this will help us bridge fiat and crypto more, leading to an increased positive outlook towards crypto, and with it, adoption.
So don't go wearing your tinfoil hats and stepping inside your faraday boxes in fear of getting spied by the government through CBDCs. They already did and it's not through CBDCs.
So don't go wearing your tinfoil hats and stepping inside your faraday boxes in fear of getting spied by the government through CBDCs. They already did and it's not through CBDCs.
There is no secret about CBDCs, it is fiat. If you know how to use fiat already online, CBDCs is of no use to that kind of people. The government are only wasting money on CBDCs because they are not needed. I do not know if it is to trick people to believe that they are cryptocurrencies, but CBDCs are not cryptocurrencies.
Well, why are they useless? CBDC has its advantages over fiat money, e.g. cheaper international transfers, faster transfers compared to bank transfers, 24/7 access compared to fiat money which is not available when banks are closed on weekends. Understandably, there are disadvantages. These are first of all centralization, also, the central banks of different countries have their CBDCs, that is, if you live in the US, you cannot have the CBDC of the Bahamas, for example. And a number of others.
In my country, I still have some banks that have 0 fee transactions for certain number of times daily or monthly but you have to pay fee for CBDC that my country created.
The only difference is that CBDCs use blockchain but fiat did not and nothing more. But they are all still fiat.
The government supposed to have improved their fiat but going for CBDC. I will never use it because it is fiat.
They keep it secret
there is no secret.. there are many whitepapers available... even the chinese e-yuan has white papers and such
http://www.pbc.gov.cn/en/3688110/3688172/4157443/4293696/2021071614584691871.pdf
heres one for MIT version for a possible US CBDC
https://www.bostonfed.org/publications/one-time-pubs/project-hamilton-phase-1-executive-summary.aspx
If they bring in new blockchain then can we be sure of it's scalebility ? Safety? And all the other factors.
They just gamble and try out ?
They should be smart and educated enough to know that If bring some thing into CBDC -s then it can't be like it was covid19 when goverments all over the world just gambled with people healt.
Imagine If the non tested CBDC will fail something happens and all your wealth is gone.
they are not untested. heck even the e-yuan alpha tested it inhouse and then beta tested numerous times on small regional peopleThey just gamble and try out ?
They should be smart and educated enough to know that If bring some thing into CBDC -s then it can't be like it was covid19 when goverments all over the world just gambled with people healt.
Imagine If the non tested CBDC will fail something happens and all your wealth is gone.
https://www.atlanticcouncil.org/blogs/econographics/a-report-card-on-chinas-central-bank-digital-currency-the-e-cny/
also.. scalability is different for CBDC because their architecture is different then bitcoin and other mainnets that support all tx.. CBDC mainnet is just a multisig of updated states of the central-commercial bank reserves.. then subnetworks where each commercial bank stores tx states of its customers
Understandably, there are disadvantages. These are first of all centralization, also, the central banks of different countries have their CBDCs, that is, if you live in the US, you cannot have the CBDC of the Bahamas, for example. And a number of others.
there is the m-bridge. where many CBDC reserve swap together to allow routing passage between currencies
https://www.bis.org/about/bisih/topics/cbdc/mcbdc_bridge.htm
https://www.reuters.com/markets/currencies/chinas-digital-yuan-stands-out-cross-border-pilot-show-global-ambition-2022-10-27/
by the way.. google searching is easy, people should try it
im not a fan of fiat or CBDC but i atleast research it to learn what it actually is
There is no secret about CBDCs, it is fiat. If you know how to use fiat already online, CBDCs is of no use to that kind of people. The government are only wasting money on CBDCs because they are not needed. I do not know if it is to trick people to believe that they are cryptocurrencies, but CBDCs are not cryptocurrencies.
Well, why are they useless? CBDC has its advantages over fiat money, e.g. cheaper international transfers, faster transfers compared to bank transfers, 24/7 access compared to fiat money which is not available when banks are closed on weekends. Understandably, there are disadvantages. These are first of all centralization, also, the central banks of different countries have their CBDCs, that is, if you live in the US, you cannot have the CBDC of the Bahamas, for example. And a number of others.
There is no secret about CBDCs, it is fiat. If you know how to use fiat already online, CBDCs is of no use to that kind of people. The government are only wasting money on CBDCs because they are not needed. I do not know if it is to trick people to believe that they are cryptocurrencies, but CBDCs are not cryptocurrencies.
They keep it secret but they know and i know and all of you know If they bring in new blockchain then can we be sure of it's scalebility ? Safety? And all the other factors.
They just gamble and try out ?
They should be smart and educated enough to know that If bring some thing into CBDC -s then it can't be like it was covid19 when goverments all over the world just gambled with people healt.
Imagine If the non tested CBDC will fail something happens and all your wealth is gone.
Goverments and bankers not gods they are just humans like everybody else and nobody not perfect so we should use our own heads to think aswell not just trust blindly.
They better be sure that those CBDC not be like they the covid19 was when it was just mess.
Something doesn't make sense here.
They just gamble and try out ?
They should be smart and educated enough to know that If bring some thing into CBDC -s then it can't be like it was covid19 when goverments all over the world just gambled with people healt.
Imagine If the non tested CBDC will fail something happens and all your wealth is gone.
Goverments and bankers not gods they are just humans like everybody else and nobody not perfect so we should use our own heads to think aswell not just trust blindly.
They better be sure that those CBDC not be like they the covid19 was when it was just mess.
Something doesn't make sense here.
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